Darby Rental Package Deal

[Dan Powers]

Investment Info:

Single-family residence buy & hold investment in Darby.

Purchase price: $67,500
Cash invested: $10,000

This property was sold as part of a package deal with Burnside. Combined both properties were bringing in $1850 a month, while the total purchase of both was $130k.

What made you interested in investing in this type of deal?

The interest of this deal was the great rental income relative to the purchase price. On top of that, the properties needed very little rehab in order to increase the rental income further.

How did you find this deal and how did you negotiate it?

This was an off-market deal, my team and I move roughly 40-50 properties a month ranging from SFH, multis, and lots throughout Philadelphia and the surrounding areas.

How did you finance this deal?

This was a cash deal.

How did you add value to the deal?

The value that is going to be added to the property is converting the forced air system to central air. As well as cosmetics throughout, including paint, carpet, and bathroom.

What was the outcome?

The outcome is going to be a great cash-flowing asset, with long-term appreciation in an area that is experiencing increased gentrification.

Lessons learned? Challenges?

The only challenges have been dealing with the current seller not being the most organzied with his paperwork in terms of leases + addendums. But, that's the fun part of real estate.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Dan Powers - New Western Acquisitions